News

Benvenuti In Montenegro

Benvenuti in Montenegro

The Mediterranean’s well-chartered waters play host to yachts and superyachts from all over the world. As Greece and Italy struggle to take control of their national debt crises, the decision by Italian Prime Minister, Mario Monti, to introduce a berthing tax chargeable on any craft over 10 metres in length has resulted in yacht owners seeking alternative arrangements outside of Italian waters. These daily taxes will be applied to any craft moored inside or anchored outside an Italian harbour. Owners may face yearly charges of €32,000 for a 78ft / 24m motor yacht and €256,000 per annum for a super yacht of 210ft / 64m. Older boats, sailing boats and boats in dry dock receive discounts yet with a proposed start date of May 1st, 2012, many Italians are already seeking alternatives.

VAT in Montenegro is capped at 7% on marine-related and tourist services, while there is a maximum of 9% VAT on capital gains, income and company tax, meaning the financial case for choosing Porto Montenegro as a homeport is a powerful one. The marina also offers tax and duty free fuel for private and commercial vessels. Yachts may remain in Montenegrin waters with no time restrictions or imported tax requirements. A straightforward vignette system also allows for multiple entries and changes to crew and passenger manifests with a minimum of fuss.